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Mergers & Acquisitions

  • Company expands c-store network

    Westlake, Ohio -- TravelCenters of America has completed its previously disclosed acquisition of 33 convenience store locations in northern Illinois.

    The company expects the stores, which average approximately 3,400 sq. ft., will be rebranded as Minit Mart convenience stores and the sites will undergo improvements in the coming months.

    TravelCenters of America operates some 370 convenience stores under the Minit Mart, TA and Petro Stopping Centers brands.
     

  • Cabela's adds Coors Brewing veteran to its board

    Nebraska-based sportings goods retailer Cabela’s has appointed the former CEO of Coors to its board.

    The company announced that Peter S. Swinburn has been named to its board of directors.

  • Nordstrom sizzles, especially online

    Seattle -- Finally some good news in the department store sector.

    Nordstrom Inc. on Thursday reported better-than-expected fiscal second-quarter earnings and sales.

    The retailer reported net profit of $211 million, or $1.09 a share, for the quarter ending Aug. 1, up from $183 million, or 95 cents a share, in the year-ago period.

  • Nordstrom avoids the department store doldrums

    In a week in which many of the nation's major department stores reported disappointing financial results, Nordstrom showed once again how to drive sales growth.

    The Washington-based retailer reported that total sales rose 9.2% from the same quarter in 2014, while same store sales rose 4.9%. The company posted a profit of $211 million, or $1.09 a share, compared with $183 million, or 95 cents a share, a year earlier. Revenue, which includes revenue from its credit cards, rose 9% to $3.7 billion. 

  • Targets adds more CPG, retail muscle to its board

    New York -- Two retail and consumer product goods veterans have joined Target's board of directors.

    The company announced Wednesday that its board of directors elected Donald R. Knauss, former executive chairman and former chairman and CEO of the Clorox Company, and Robert L. Edwards, former CEO of Safeway Inc., as new directors, effective immediately.


  • Lowe's builds a new strategy with N.Y. stores

    Lowe’s is giving an overhaul to its store format strategy when it opens in New York City this week. 

  • Macy’s in real estate deal with Tishman Speyer for Brooklyn store

    New York -- Macy’s has joined the increasing number of retailers tapping into their real estate assets.

    Macy’s on Wednesday announced a real estate purchase agreement with developer Tishman Speyer to sell several of the nine floors of the Macy’s store on Fulton Street in Brooklyn, New York. The real estate transaction is expected to be completed in the fourth quarter, and Macy’s is expected to record a gain of approximately $250 million in its fiscal fourth quarter of 2015.

  • Embattled American Apparel issues blunt warning to shareholders

    New York -- Things are not getting any better at the struggling and cash-poor American Apparel. In fact, it looks like they are getting worse.

    In a short form quarterly filing, the retailer said its net loss increased to $19.4 million in the second quarter from $16.2 million in the year-ago period while net sales fell 17% to $134 million. It estimated that, as of June 30, it had only $7 million in cash and $6 million left in its Capital One credit line. (American Apparel’s full quarterly filing will be delayed.)

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